Department of Economics School of Economics and Management Tsinghua University 2012-2013 To Advance Knowledge and Cultivate Leaders for China and the World.

Contents

02/ Introduction 03/ Faculty 23/ Academic Events 28/ Research Centers 31/ Academic Journal 32/ Programs 01/02

Introduction

The Department of Economics, Tsinghua University, was founded in 1926. Professor CHEN Daisun, a Harvard-trained economist and a prominent figure in the history of economics research and education in China, was the head of the department from 1928 to 1952. Under his leadership, the department became one of the very best in China. The department was shut down and the faculty members were assigned to other universities during the university reorganization in 1952. The department was reestablished in 1984. At present, there are 35 fulltime faculty members and 5 distinguished visiting professors in the department.

Despite its eventful history, the Department of Economics sets itself a high target of becoming China’s premier institution of economic research and education with international influence. The department strives to make outstanding contributions on economic research, especially in the field of study in the Chinese economy. Students graduated shall be equipped with a sense of social responsibility, an open mind, the analytical ability, and knowledge and insights about the economy. These characteristics can help students take lead roles in the future based on a solid foundation.

The Department has been actively recruiting new faculty and at the same time developing the existing faculty. In recent years, the Department has added several senior professors with extensive research and teaching experience in overseas research universities, as well as quite a few new faculty members with PhDs from top economics programs abroad.

The Department of Economics aspires to develop a good environment for research, and has already established several research centers to facilitate the faculty and the students for doing research. Moreover, the department has hosted a series of international conferences and several high-level academic events, which attracted the participation of numerous internationally famous scholars.

Contact Information Department of Economics 227, Shunde Building School of Economics and Management Tsinghua University Beijing, 100084, China Tel: (8610) 62798049 Fax: (8610) 62785562 Email: [email protected] Website: http://www.sem.tsinghua.edu.cn Department of Economics Tsinghua University School of Economics and Management 2012-2013

Faculty

There are 35 full-time faculty members in the Department of Economics, including 8 professors, 8 associate professors, and 19 assistant professors. In addition, there are 5 distinguished visiting professors on the faculty.

Among the full-time faculty members, three professors are selected in the One-Thousand Talents Program, two hold the Cheung Kong Scholar Professorships, and two are recipients of the China National Science Foundation’s Distinguished Young Scholars Funds. 03/04

Full-Time Faculty

• BS, 1983, University of Science and Technology of China • Ph.D., 1988, University of California, San Diego • Ph.D., 1993, Harvard University

Research Interests Public Economics, Economics of Organization and Incentives, Corporate Governance, Development/Transition Economics, Industrial Economics, China's Economy

Research Output • How Does Privatization Work in China? (with Jiangyong Lu and Zhigang Tao), Journal of Comparative Economics, 37 (3): pp. 453–470, 2009. • The Return to Capital in China (with Chang-tai Hsieh and Yingyi Qian), Brookings Papers on Economic Activity, no. 2: pp. 61-101, 2006. • Corporate Governance and Market Valuation in China (with Qiao Liu, Joe Lu, Frank M. Song, and Junxi Zhang), Journal of Comparative Economics, 32(4): pp. 599-616, December 2004. BAI Chong-En • Revenue Sharing and Control Rights in Team Production: Theories and Evidence from Joint Ventures (with Zhigang Tao and Changqi Wu), Rand Journal of Economics, 35(2): pp. Freeman Chair Professor of Economics 277-305, Summer 2004. Chair of the Department • Local Protectionism and Regional Specialization: Evidence from China's Industries (with Associate Dean of the School Yingjuan Du, Zhigang Tao, and Sarah Tong), Journal of International Economics, 63(2): pp. Office: 258, Weilun Building 397-417, July 2004. Tel: 86-10-62797521 Email: [email protected]

• BA/BS, 1998, Peking University • MS, 2001, Peking University • Ph.D., 2007, Harvard University

Research Interests Environmental Economics, Resource Economics, Public Economics, Development Economics

Research Output • Robust Simulation of Global Warming Policies Using the DICE Model (with Z. Hu and L. J. Hong), Management Science 58(12), pp.2190-2206, 2012. • Reconciling Economic Growth and Carbon Mitigation: Challenges and Policy Options in China, Asian Economic Policy Review 5(1), pp. 110-129, 2010. • China's 11th Five-Year Plan and the Environment: Reducing SO2 Emissions (with R. Garbaccio and M. Ho), Review of Environmental Economics and Policy 3(2), pp. 231-250, 2009. • The Local and Global Benefits of Green Tax Policies in China (with M. Ho and D. Jorgenson), CAO Jing Review of Environmental Economic and Policy 3(2), pp. 189-208, 2009. Associate Professor • Industrial and Aggregate Measures of Productivity Growth in China, 1982-2000 (with M. Ho, D. Office: 128, Shunde Building Jorgenson, R. Ren, L. Sun, X. Yue), Review of Income and Wealth 55(1), pp. 485-513, 2009. Tel: 86-10-62792726 Email: [email protected] Department of Economics Tsinghua University School of Economics and Management 2012-2013

• BA, 2001, Tsinghua University • MA, 2003, Tsinghua University • Ph.D., 2010, London Business School

Research Interests Microeconomic Theory, Industrial Organization, Behavioral Economics, Corporate Governance

Research Output • Free Gift as a Profitable Pricing Strategy, Working Paper. • When to Allow Buyers to Sell? Bundling in Mixed Two-Sided Markets, Working Paper. • Multiproduct Price Discrimination with Two-Part Tariffs, Working Paper. • A Quasi-Cumulative Weighting Function for Prospect Theory: The (b; c) Model, Working Paper. • Strategies for Developing China's Software Industry (with Mingzhi Li), The Journal of Information Technologies and International Development, 1(1), pp. 61-73, MIT Press, 2003.

GAO Ming Assistant Professor Office: 556, Weilun Building Tel: 86-10-62793163 Email: [email protected]

• BA, 2001, Nanjing University • MA, 2004, Peking University • Ph.D., 2010, University of California, Davis

Research Interests International Macro/Finance, International Trade, Applied Econometrics, Macroeconomics

Research Output • Output Uncertainty, Asymmetric Information, and Mechanisms of Twin Crises (with Jianhuai Shi), China Economic Quarterly, Vol. 4.3, April 2005. • Financial Frictions, Heterogeneous Preferences and International Consumption Risk Sharing, 2012. • Hierarchical Bayesian Method and Gravity Equations, 2012. • Exports and Equity Flows with Financial Frictions (with Huiran Pan), Working Paper, 2012. • Spatial Gravity Model with Panel data (with Wei Wang), Working Paper, 2012. GUO Meixin Assistant Professor Office: 448, Weilun Building Tel: 86-10-62795839 Email: [email protected] 05/06

• BS, 1982, Nankai University • MS, 1984, Nankai University

Research Interests Political Economy, Western Economics, Theory and Application of Economics, Macroeconomic Analysis

Research Output • Financial Tsunami and Me, China CITIC Press, 2009. • Difficult to Understand the Chinese Economy, China CITIC Press, 2008. • Open the Macro Window, China CITIC Press, 2008.

HAN Xiuyun Associate Professor Office: 554, Weilun Building Tel: 86-10-62789790 Email: [email protected]

• B.A. in Economics, 2005, Wuhan University • B.S. in Mathematics, 2005, Wuhan University • M.A. in Economics, 2007, Wuhan University • Ph.D. in Economics, 2012, University of Wisconsin-Madison

Research Interests Econometric Theory, Applied Econometrics

Research Output • Inference in Semiparametric Conditional Moment Models with Partial Identification, 2012. • Set Estimation Based on Conditional Moment Restrictions Containing Unknown Functions, Working Peper, 2012. • Estimation in Dynamic Discrete Choice Panel Data Models with Partial Identification: A Random Effects Approach, 2010.

HONG Shengjie Assistant Professor Office: 543, Weilun Building Tel: 86-10-62794187 Email: [email protected] Department of Economics Tsinghua University School of Economics and Management 2012-2013

• BS, 1982, Nanjing University • MS, 1988, Tsinghua University • Ph.D., 1995, Pennsylvania State University

Research Interests International Trade, International Finance, Industrial Organization

Research Output • When is Quality of Financial System a Source of Comparative Advantage? (with Shang-Jin Wei), Journal of International Economics, 84, pp. 178-187, 2011. • Domestic Institutions and the Bypass Effect of International Capital Flow, (with Shang-Jin Wei), American Economic Journal: Economic Policy, pp. 173-204m, November 2010. • A Model of Middlemen and Oligopolistic Market Makers,(with Scott Linn and Zhen Zhu), Journal of Economics & Management Strategy, 19(1), pp. 1-23, Lead Article, Spring 2010. • Welfare and Market Access Effects of Piecemeal Tariff Reform, (with Kala Krishna), Journal of International Economics, 51, pp. 305-316, August 2000. JU Jiandong • Divisionalization, Franchising, and Divestiture Incentives in Oligopoly, (with Micheal Baye, Professor Keith Crocker), American Economic Review, 86, pp. 223-236, March 1996. Office: 386H, Weilun Building Tel: 86-10-62792879 Email: [email protected]

• BA, 2002, Nankai University • MA, 2004, University of British Columbia • Ph.D., 2010, Indiana University

Research Interests Monetary Economics, Applied Macroeconometrics, Open Economy Macroeconomics

Research Output • On the Identification of Fiscal Policy Behavior, CAEPR Working Paper, No. 026-2008, 2011. • On the Identification of Fiscal Policy Behavior: A Bayesian DSGE Approach, Working Paper. • Bayesian Identification of Monetary and Fiscal Policy Behavior: A Regime-Switching DSGE Approach, Working Paper. • Characterizing the Dynamic Effects of Fiscal Policy Shocks in China (with Qing Liu), Working Paper. • Characterizing the Fiscal Financing Behavior in China: A Bayesian DSGE Approach (with LI Bing Qing Liu), Working Paper. Assistant Professor Office: 525, Weilun Building Tel: 86-10-62797610 Email: [email protected] 07/08

• BS, 1993, China Agricultural University • Ph.D., 2001, Stanford University

Research Interests Development Economics, Labor Economics, Transition and Chinese Economy, Human Capital

Research Output • Family Ties and Organizational Design: Evidence from Chinese Private Firms (with Hongbin Cai, Albert Park and Li-an Zhou), Review of Economics and Statistics, forthcoming 2013. • Sex Ratios and Crime: Evidence from China (with Lena Edlund, Junjian Yi and Junsen Zhang), Review of Economics and Statistics, forthcoming 2013. • The End of Cheap Chinese Labor (with Lei Li, Binzhen Wu and Yanyan Xiong), Journal of Economic Perspectives, 26(4), pp. 57-74, 2012. • Does Having a Cadre Parent Pay? Evidence from the First Job Offers of Chinese College Graduates (with Lingsheng Meng, Xinzheng Shi and Binzhen Wu), Journal of Development LI Hongbin Economics, 99, pp. 513-520, 2012. • Altruism, Favoritism, and Guilt in the Allocation of Family Resources: Sophie’s Choice in C.V. Starr Chair Professor Mao’s Mass Send Down Movement (with Mark Rosenzweig and Junsen Zhang), Journal of Office: 227H, Shunde Building Political Economy lead article 118(1), pp. 1-38, February 2010. Tel: 86-10-62792924 Email: [email protected]

• BS, 1987, Nankai University • MS, 1990, Shanghai Jiaotong University • Ph.D., 1999, The University of Texas at Austin

Research Interests Industrial Organization, E-Commerce/Business

Research Output • Government Driven Model of Institutional Change Through Adoption of New Technology: A Case Study of the Failed Pharmaceutical Bidding Platforms in China (with Kai Reimers), Chinese Management Studies, Vol. 6, Issue 1, pp. 53-64, 2012. • Comparative Research on Mobile Value Chains among China, Japan, and Korea (with Hong Joo Lee, Junichi Iijima, Jong Woo Kim), The Journal of Korean Society for e-Business Studies, Vol. 15, No. 3, pp. 147-162, 2010. • Effectiveness of the International 3G Standardisation Process and Implications for China’ s 3G Policy (with Kai Reimers), International Journal of Public Policy, Vol. 2, Nos. 1/2, page LI Mingzhi 124-139, 2007. Associate Professor • Antecedents of a Transaction Cost Theory of Vertical IS, Standardisation Processes (with Kai Reimers), Electronic Markets, Vol. 15, Issue 4, pp. 301-312, December 2005. Office: 545, Weilun Building Tel: 86-10-62771778 • Should Buyers Try to Shape IT Markets Through Non-Market Collective Actions – Email: [email protected] Antecedents of a Transaction Cost Theory of Network Effects (with Kai Reimers), International Journal of IT Standards and Standardization Research, Vol. 3, Issue 1, pp. 44-67, Jan-March 2005. Department of Economics Tsinghua University School of Economics and Management 2012-2013

• BA, 2001, Wellesley College • MA, 2005, University of California, San Diego • Ph.D., 2010, University of California, San Diego

Research Interests Behavioral Economics, Applied Microeconomics, Consumer Behavior, Public Policy

Research Output • Limited Attention and the Deadline Effect: Simple Spending Rules in the Field, revise and resubmit at Journal of Economic Behavior and Organization, 2012. • Staying Ahead and Getting Even: Risk Attitudes of Experienced Poker Players (with David Eil), Working Paper, 2012. • Preference Submission Timing in School Choice Matching: Testing Efficiency and Fairness in the Laboratory (with Jie Zheng and Xiaohan Zhong), Working Paper, 2012. • Detecting Reference-Dependent Preferences using Independent Outcomes: A Test Using Slot Machines, Working Paper. LIEN Jaimie Wei-Hung • Why is Layaway Attractive? Exploring Hypotheses and Empirical Facts, Working Paper. Assistant Professor Office: 542, Weilun Building Tel: 86-10-62798617 Email: [email protected]

• BA, 1982, Harbin Normal University • MA, 1991, Harbin Normal University • Ph.D., 1996, Renmin University of China

Research Interests Public Finance of China, Tax law and Tax System, Macroeconomics, Rural Economic and Fiscal Policy, Transition Economy and Theory of Modernization, Economic Game Theory and Design of Fiscal System

Research Output • The Research on Income Distribution and Risk Sharing in the Cooperation-Innovation System (with Liping Liu), Accounting Research, No.10, pp. 83-88, 2010. • Fiscal Reform and Local Financial Change Under the Tax System in (with Yinan Feng), Tax Research, No.04, pp. 12-16, 2010. • Establishment Financial Income Calculation System in China (with Liming Liu and Guofeng Li), Taxation Research, No.3, pp. 26-29, 2007. LIU Lingling • Demonstrated Analysis on inefficiency of Bank Profit (with Xixin Li), Financial Research, Professor No.12, pp. 51-63, 2006. Office: 522, Weilun Building • Demonstrated Analysis on inefficiency of Bank Cost (with Xixin Li), China Soft Science, Tel: 86-10-62789791 No.11, pp. 31-35, 2006. Email: [email protected] 09/10

• BA, 1996, Xinjiang University of Finance and Economics • MA, 1999, Zhejiang University • MA, 2002, University of British Columbia • Ph.D., 2008, University of Toronto

Research Interests International Macroeconomics, Monetary Economics, Macroeconomics.

Research Output • Currency Areas and Monetary Coordination (with Shouyong Shi), International Economic Review, 813-836, 51, 2010. • Marginal Likelihood Calculation for Gelfand-Dey and Chib Method (with Chun Liu), Economics Letter, Volume 115, Issue 2, 200–203, May 2012. • Goods Market Frictions and Real Exchange Rate Puzzles, Journal of International Economics, R&R, 2012. • Efficiency Gain to Restricting the Circulation of Foreign Currency, under review, 2012. LIU Qing • Oil Price Stabilization and Global Welfare (with Kang Shi and Juanyi Xu), under review, 2012. Assistant Professor Office: 539, Weilun Building Tel: 86-10-62773994 Email: [email protected]

• BE, 2006, Renmin University of China • Ph.D., 2012, University of Michigan

Research Interests Experimental Economics, Behavioral Economics, Game Theory, Market Design, Labour Economics

Research Output • Behavioral Spillovers and Cognitive Load in Multiple Games: An Experimental Study (with Jenna Bednar, Yan Chen, Scott Page), Games and Economic Behavior, 74(1), pp. 12-31, 2012 • Crowdsourcing with All-Pay Auctions: A Field Experiment on Taskcn (with Jiang Yang, Lada Adamic, Yan Chen), under revision for resubmission to Management Science, 2012. • Which Hat to Wear? Impact of Natural Identities on Coordination and Cooperation (with Yan Chen, Sherry Xin Li, Margaret Shih), under revision for resubmission to Games and Economic Behavior, 2012. LIU Xiao • Sequential v. Simultaneous All-Pay Auction: An Experimental Study, under review, 2012 Assistant Professor Office: 445, Weilun Building Tel: 86-10-62793429 Email: [email protected] Department of Economics Tsinghua University School of Economics and Management 2012-2013

• BA/BS, 2002, Wuhan University • Ph.D., 2010, University of Minnesota

Research Interests International Economics, Macroeconomics, Economics Growth

Research Output • Income Inequality and Trade (with Larry Qiu), Working Paper, 2011. • Home Bias and Foreign Direct Investment (Mingyi Kang), Working Paper, 2010.

LU Lin Assistant Professor Office: 548, Weilun Building Tel: 86-10-62781005 Email: [email protected]

• BA, 2002, Fudan University • MA, 2004, University of California, Davis • Ph.D., 2009, University of California, Davis

Research Interests International Economics, Industrial Economics

Research Output • Contractual Versus Non-Contractual Trade: the Role of Institutions in China (with Rob Feenstra, Chang Hong, and Barbara Spencer), forthcoming in Journal of Economic Behavior and Organization. • Who Shrunk China? Puzzles in the Measurement of Real GDP (with Rob Feenstra, Peter Neary, and Prasada Rao), forthcoming in the Economic Journal. • Import Variety and Welfare Gain in China (with Bo Chen), Review of International Economics, Vol.20(4) , 2012. • Consistent Comparisons of Real Incomes across Time and Space (with Rob Feenstra and MA Hong Prasada Rao), Macroeconomic Dynamics, vol. 13:169-193, 2009. Assistant Professor • Optimal Choice of Product Scope for Multiproduct Firms under Monopolistic Competition Office: 536, Weilun Building (with Rob Feenstra), in E. Helpman, D. Marin and T. Verdier, eds., The Organization of Firms Tel: 86-10-62794388 in a Global Economy, Harvard University Press, 2008. Email: [email protected] 11/12

• BA, 2002, Peking University • MPhil, 2004, Chinese University of Hong Kong • Ph.D., 2010, University of Maryland, College Park

Research Interests Labor Economics, Public Economics, Development Economics

Research Output • Poverty in China’s Colleges and the Targeting of Financial Aid (with Hongbin Li, Xinzheng Shi and Binzhen Wu), China Quarterly, forthcoming. • Prenatal Sex Selection and Missing Girls in China: Evidence from the Diffusion of Diagnostic Ultrasound (with Yuyu Chen and Hongbin Li), Journal of Human Resources, forthcoming. • Does Having a Cadre-Parent Pay? Evidence from the First Job Offers of Chinese College Graduates (with Hongbin Li, Xinzheng Shi and Binzhen Wu), Journal of Development Economics, 99(2), 513–520, November 2012. MENG Lingsheng • Does Attending Elite Colleges Pay in China? (with Hongbin Li, Xinzheng Shi and Binzhen Wu), Journal of Comparative Economics, 40(1), 78–88, February 2012. Assistant Professor • The Human Cost of China’s Industrial Growth (with Hongbin Li and Wenqing Pan), China Office: 533, Weilun Building Economic Review, 22(3), 373-382, September 2011. Tel: 86-10-62798613 Email: [email protected]

• BA, 2000, Peking University • MA, 2003, University of Maryland at College Park • Ph.D., 2005, University of Maryland at College Park

Research Interests Macroeconomics, Industrial Organization, Labor Economics, Computational Economics

Research Output • Plant Life Cycle and Aggregate Employment Dynamics, Macroeconomic Dynamics, forthcoming. • On the Cyclicality of R&D, the Review of Economics and Statistics, forthcoming. • The Scarring Effect of Recessions, the Journal of Monetary Economics, 56, pp. 184-199, 2009. • "The Driving Forces of Job Flows over the Business Cycle: Theory and Evidence," in Business Fluctuations and Cycles: New Research, edited by T. Nagakawa, Nova Science Publishers, Hauppauge, New York, pp. 1-23, 2008. OUYANG Min • "The Macroeconomics of Restructuring" in Series on Western Research in the Humanities and Associate Professor Social Sicences: Economics edited by Shunfeng Song and Zuohong Pan, China Renmin Office: 230, Weilun Building University Press, Beijing, China, pp. 22-39, 2008. Tel: 86-10-62786877 Email: [email protected] Department of Economics Tsinghua University School of Economics and Management 2012-2013

• BS, 1987, Northwest Normal University • MS, 1993, Lanzhou University • Ph.D., 1999, Renmin University of China

Research Interests Quantitative Economics, Macroeconomics, International Economics

Research Output • Spatial Spillover Effects and Regional Economic Growth in China (with Chong-En Bai and Hong Ma), China Economic Review, 23(4), pp.982-990, 2012. • Regional Linkage and the Spatial Spillover Effects on Regional Economic Growth in China, Economic Research Journal 47(1), pp.54-65, 2012. • Inter-industry Technology Spillover Effects in China: Evidence from 35 Industrial Sectors (with De-Lin Yang and Min Lin), China & World Economy, 20(2), pp.23-40, 2012. • The Human Cost of China's Industrial Growth (with Hongbin Li and Lingsheng Meng) China PAN Wenqing Economic Review, 22, pp.373-382, 2011. • The Economic Disparity between Different Regions of China and Its Reduction—An Analysis Associate Professor from the Geographical Perspective, Social Sciences in China, No.1, pp.72-84, 2010. Office: 558, Weilun Building Tel: 86-10-62772541 Email: [email protected]

• BS, 1993, Nankai University • MS, 1996, Peking University • Ph.D., 1999, Peking University

Research Interests Health Economics, Development Economics

Research Output • Paid Work in China: A Study Based on Time-Use Statistics (with Xinli An and Xiaoyuan Dong), forthcoming. • The Income-related Mobility of Health and Health Care Utilization: A Study Based on Micro Panel Data from China (with Zinai Li), Economic Research Journal, No. 11, pp. 83-95, 2011. • A Study on the Anti-poverty, Income Increasing and Re-distributional Effects of New Cooperative Medical System, Journal of Quantitative & Technical Economics, Vol. 28, No. 8, pp. 35-52, 2011. • Reflections on Econometric Modeling Methodology (with Zinai Li), Social Sciences in China, QI Liangshu No. 2,pp. 69-83, 2010. Associate Professor • Income Distribution, Healthcare Resources and Population Health: A Cross-country Study, Office: 543, Weilun Building South China Journal of Economics, No. 4, pp. 27-41, 2008. Tel: 86-10-62772538 Email: [email protected] 13/14

• BS, 1982, Tsinghua University • MA, 1982, Columbia University • MPhil, 1984, Yale University • Ph.D., 1990, Harvard University

Research Interests Comparative Economics, Institutional Economics, Economics of Transition, Chinese Economy

Research Output • Infrastructure Development in China: The Cases of Electricity, Highways, and Railways (with Chong-En Bai), Journal of Comparative Economics, 38(1), pp. 34-51, March 2010. • The Return to Capital in China (with Chong-En Bai and Chang-Tai Hsieh), Brookings Papers on Economic Activity, 37(2), pp. 61-102, September 2006. • Entrepreneurship in China and Russia Compared (with Simeon Djankov, Gérard Roland, and Ekaterina Zhuravskaya), Journal of European Economic Association, Papers and Proceedings, 4(2-3), pp. 352-365, April-May 2006. QIAN Yingyi • Coordination and Experimentation in M-form and U-form Organizations (with Gérard Roland Professor and Chenggang Xu), Journal of Political Economy, 114(2), pp.336-402, April 2006. Dean of the School • Regional Decentralization and Fiscal Incentives: Federalism, Chinese Style (with Hehui Jin Office: 256, Weilun Building and Barry R. Weingast), Journal of Public Economics, 89(9-10), pp. 1719-1742, September Tel: 86-10-62772362 2005. Email: [email protected]

• BA, 1998, Peking University • Ph.D., 2007, Iowa State University

Research Interests Political Economy, Dynamic Contract and Macroeconomics, Health and Development Economics, Job Dynamics in China

Research Output • The Costs and Benefits of Autocracy (with Jiahua Che and Kim Sau Chung), Working paper. • The Good, the Bad and the Civil Society (with Jiahua Che and Kim Sau Chung), R&R, Journal of Public Economics. • Job Creation and Job Destruction in China (with Hong Ma and Yuan Xu), R&R, Economic Research Journal. • Unsafe Sex, AIDS, and Development, Journal of Economics, 105(3): 263-279, 2012. • Public and Private Expenditure on Health in a Growth Model (with Joydeep Bhattacharya), QIAO Xue Journal of Economic Dynamics and Control, 31(8): 2519-2535, 2007. Assistant Professor Office: 547, Weilun Building Tel: 86-10-62796146 Email: [email protected] Department of Economics Tsinghua University School of Economics and Management 2012-2013

• BA, 2000, Peking University • MA, 2003, Peking University • Ph.D., 2009, University of Michigan

Research Interests Development/Transition Economics, Public Economics, Applied Econometrics, China's Economy

Research Output • Does Havnig a Cadre-Parent Pay? Evidence From the First Job Offers of Chinese College Graduates (with Hongbin Li, Lingsheng Meng, and Binzhen Wu); Journal of Development Economics, vol. 99, issue 2: 513-520 , November 2012. • Does An Intra-Household Flypaper Effect Exist? Evidence From the Educational Fee Reduction Reform in Rural China, Journal of Development Economics, vol. 99, issue 2: 459-473, November 2012. • Does Attending Elite Colleges Pay in China? (with Hongbin Li, Lingsheng Meng, and SHI Xinzheng Binzhen Wu), Journal of Comparative Economics, 40, 78-88, 2012. Assistant Professor • Famine, Fertility, and Fortune in China, China Economic Review, 22, 244-259, 2011. Office: 529, Weilun Building • Exporting and Firm Performance: Chinese Exporters And the Asian Financial Crisis (with Tel: 86-10-62784920 Albert Park, Dean Yang, and Yuan Jiang), Review of Economics and Statistics, Vol. 92, No. 4: Email: [email protected] 822–842, November 2010.

• BS, Fudan University, 1985 • MA, Boston University, 1989 • Ph.D., Boston University, 1991

Research Interests Microeconomic Theory, Auction Theory, and Game Theory

Research Output • Listing Prices as Signals of Quality in Markets with Negotiation, Journal of Industrial Economics, 59(2), 321-341, 2011. • Coalition Formation in the Presence of Continuing Conflict (with Guofu Tan), International Journal of Game Theory, 39, pp. 273-299, 2010. • Switching Costs in Infinitely Repeated Games (with Bart Lipman), Games and Economic Behavior, 66, pp. 292-314, 2009. • The Role of Information Revelation in Elimination Contests (with Jun Zhang), Economic Journal, 119, pp. 613-641, 2009. WANG Ruqu • A Note on Redistributive Fairness and Economic Reform (with Anna Rubinchik), Journal of CCB Chair Professor Development Economics, 86, pp.447-452, 2008. Office: 327F, Shunde Building Tel: 86-10-62797845 Email: [email protected] 15/16

• BS, 1982, West China University of Medical Sciences • MA, 1991, University of Notre Dame • Ph.D., 1996, University of Iowa

Research Interests Macroeconomics

Research Output • Hayashi meets Kiyotaki and Moore: A theory of Capital Adjustment Costs (with pengfei Wang), Review of Economic Dynamics, forthcoming. • Speculative Bubbles and Financial Crisis (with Pengfei Wang), American Economic Journal: Macroeconomics, forthcoming. • Input and Output Inventory Dynamics, American Economic Journal: Macroeconomics, 3(4), pp. 1-33, 2011. • Volatility, Growth, and Welfare (with Pengfei Wang), Journal of Economic Dynamics and WEN Yi Control, 35(10), pp. 1696-1709, 2011. • Understanding the Effects of Technology Shocks (with Pengfei Wang), Review of Economic CCB Chair Professor Dynamics, 14(4), pp. 705-724, 2011. Office: 227E, Shunde Building Tel: 86-10-62794764 Email: [email protected]

• BA, 2005, Columbia University • MA, 2006, Toulouse School of Economics • Ph.D., 2010, Toulouse School of Economics

Research Interests Industrial Organization, Microeconomic Theory, Economics of the Internet

Research Output • Walrasian Equilibrium in Large, Quasi-linear Markets (with Eduardo M. Azevedo and E. Glen Weyl), Theoretical Economics, forthcoming. • Economics of Online Platforms, New Palgrave Dictionary of Economics (Steven N. Durlauf and Lawrence E. Blume, eds.), Palgrave Macmillan, 2012. • Search Engines: Left Side Quality versus Right Side Profits, under revision for resubmission to the International Journal of Industrial Organization, 2012. • Insulated Platform Competition (with E. Glen Weyl), Working Paper, Tsinghua University and University of Chicago, 2012. WHITE Alexander Cowles • The Attention Economy of Search and Web Advertisement (with Kamal Jain), Working Paper, Assistant Professor Tsinghua University and eBay Research Labs, 2010. Office: 229, Weilun Building Tel: 86-10-62798048 Email: [email protected] Department of Economics Tsinghua University School of Economics and Management 2012-2013

• BEng, 1998, Xi’an Jiaotong University • MA, 2001, Peking University • Ph.D., 2006, University of Wisconsin-Madison

Research Interests Public Economics, Economics of Education, Medical and Health

Research Output • Poverty in China’s Colleges and the Targeting of Financial Aid (With Hongbin Li, Lingsheng Meng, Xinzheng Shi), China Quarterly, forthcoming. • The End of Cheap Chinese Labor (with Hongbin Li, Lei Li, Yanyan Xiong), Journal of Economic Perspectives, 26 (4), pp. 57-74, 2012. • Does Having a Cadre-Parent Pay? Evidence from the First Job offers of Chinese College Graduates (With Hongbin Li, Lingsheng Meng, Xinzheng Shi), Journal of Development Economics, 99, pp. 513–520, 2012. WU Binzhen • Does Attending Elite colleges Pay in China (With Hongbin Li, Lingsheng Meng, Xinzheng Shi), Journal of Comparative Economics, 40, pp.78-88, 2012. Assistant Professor • Income Inequality, Consumption, and Social-Status Seeking (with Ye Jin, Hongbin Li) Journal Office: 553, Weilun Building of Comparative Economics, 39, pp.191-204, 2011. Tel: 86-10-62772371 Email: [email protected]

• BS, 1982, Northwest University • MS, 1985, Northwest University • Ph.D., 1989, Chinese Academy of Sciences

Research Interests Microeconomics, Macroeconomics, Economics Growth

Research Output • Economic growth with land factors in New-Classical Theory (with Wanli Yang), Systems Engineering-Theory & Practice, NO.8, Vol.29, pp. 50-55, 2009. • Review of Economic Studies of land at home and abroad (with Wanli Yang), Productivity Research, 5, pp. 10-12, 2009. • Inflation's Impact on Industrial Climate Based on CTC Mode (with Zheping Ren and Jianlong Yang), Statistical Research, NO.10, Vol.25, 2008. • Determinants of Factors in China’s Industrial Sector (with Chong-En Bai and Zhenjie Qian), Economic Research Journal,Vol.43, No.8, pp.16-28, 2008. WU Kangping • Gathering in the Proliferation of Economic Development and Regional Differences Change Professor (with Hongying Gao), Productivity Research, NO.16, pp. 15-17, 2007. Office: 227I, Shunde Building Tel: 86-10-62788142 Email: [email protected] 17/18

• BS, 2002, Fudan University • Ph.D., 2009, University of California, Davis

Research Interests Monetary Economics, Financial Economics, Applied Time Series Economics

Research Output • Import, export, and Renminbi exchange rate: firm-level evidence from China (with Hongbin Li, Yanyan Xiong, and Hong Ma), Journal of Financial Research. Issue 2: pp. 1-16, 2011. • Robustness to model uncertainty and the bond risk premium, Working Paper. • A model of the yield curve with idiosyncratic consumption risk, Working Paper. • Housing CCAPM and the term structure of interest rates (with Yin Liu), Working Paper. • Gross job creation and destruction in China (with Hong Ma, Xue Qiao), Working Paper.

XU Yuan Assistant Professor Office: 532, Weilun Building Tel: 86-10-62794289 Email: [email protected]

• BS, 1986, Renmin University of China • MS, 1989, Chinese Academy of Social Sciences • Ph.D., 1997, Chinese Academy of Social Sciences

Research Interests Economic Analysis of Investment and Saving, Security Theory

Research Output • Financing for the SMEs: in Every Possible Way (with Li Y.), Finance & Trade, No.10, pp. 29-31, 2002. • Venture Capitals: Momentum for SMEs (with Li Y.), Finance & Trade, No.10, pp. 24-28, 2002. • Research on Banks and Financing of SMEs (with Li Y.), Shanghai Finance, No.10, pp. 4-6, 2001. • Financing of SMEs and Its Countermeasure, Journal of Enterprise Management and Reform, No.11, pp. 17-18, 1999. YANG Siqun • Opening the Financial Service Market of China: Advantages, Risks and Policy Analysis, Journal of Reform and Management of Enterprises, No.5, pp. 13-15, 1999. Associate Professor Office: 544, Weilun Building Tel: 86-10-62771779 Email: [email protected] Department of Economics Tsinghua University School of Economics and Management 2012-2013

• BS, 2006, Fudan University • BEng, 2006, University of Birmingham • Ph.D., 2011, University of Pennsylvania

Research Interests Macroeconomics, International Finance, Computational Economics

Research Output • Computing DSGE Models with Recursive Preferences (with Dario Caldara, Jesús Fernández- Villaverde and Juan F. Rubio-Ramírez), Review of Economic Dynamics, Volume 15, Issue 2, April 2012 • International Business Cycles and Financial Frictions, Bank of Canada Working Paper 2012-19

YAO Wen Assistant Professor Office: 432, Weilun Building Tel: 86-10-62793832 Email: [email protected]

• BEng, 2003, Renmin University of China • MSc, 2005, London School of Economics • MA, 2007, Brown University • Ph.D., 2011, Brown University

Research Interests Econometrics, Applied Econometrics

Research Output • Lowering Child Mortality in Poor Countries: The Power of Knowledgeable Parents (with Peter Boone), CEP Discussion Paper No. 751, 2006. • Detecting Weak Identification by Bootstrap, Working Paper. • Does a Technology Shock Increase or Decrease Hours: Evidence From the Robust Approach (with Sophocles Mavroeidis), Working Paper. ZHAN Zhaoguo • Weak Identification in (C)CAPM, Working Paper. Assistant Professor • Forward Filtering in Models With Serial Correlation, Working Paper. Office: 358, Weilun Building Tel: 86-10-62789422 Email: [email protected] 19/20

• BA, 2003, Tsinghua University • MA, 2005, Tsinghua University • MA, 2007, Washington University in St. Louis • Ph.D., 2011, Washington University in St. Louis

Research Interests Microeconomic Theory, Information Economics, Industrial Organization, Experimental Economics

Research Output • The Relationship of Economic Theory to Experiments (with David K. Levine), The Methods of Modern Experimental Economics, ed. Guillame Frechette and Andrew Schotter, Oxford University Press, forthcoming. • Multi-Period Complete-Information Games with Self-Control: a Dual-Self Approach (with Wei Wang), Operations Research Transactions, Vol.16 No.4: pp. 95-104, 2012 • Open Source Software Movement: a Challenging Opportunity for the Development of China’s ZHENG Jie Software Industry (with Mingzhi Li), Journal of Electronic Science and Technology of China, Vol.2 Assistant Professor No.3, pp.47-52, 2004. Office: 561, Weilun Building • When Can Forgetfulness Make Us Better Off? Working Paper, 2010. Tel: 86-10-62789819 • Strong Bubbles and Common Expected Bubbles in a Finite Horizon Model, Working Paper, 2009. Email: [email protected]

• BS, 1994, Tsinghua University • MS/Ph.D., 1999, Tsinghua University

Research Interests Development Economics, Labor Economics, Political Economy, Applied Microeconomics, China Economy

Research Output • Has the Lewis Turning Point Arrived in China? – Theoretical Analysis and International Experience (with Jin Wang), Social Sciences in China, Vol. XXXIII, No. 3, pp. 81-100, Aug. 2012. • Preference Submission Mechanisms and Matching Qualities: An Empirical Study on China’s College Entrance Examination System (with Binzhen Wu), China Economic Quarterly, 11:2, pp. 765-804, Jan. 2012. • The Effect of Tax Rebate Policy Changes on China’s Exports: An Empirical Analysis (with ZHONG Xiaohan Chong-En Bai, Xin Wang), China Economic Quarterly, 10:3, pp. 799-820, Apr. 2011. Associate Professor • Labor Flow and Wage Disparity, Social Sciences in China, Issue 157, pp. 34-46, Jan. 2006. Vice Chair of the Department • Where Have All the Flowers Gone – An Analysis of the National College Entrance Exam (with Office: 551, Weilun Building Na Cheng, Yunfan He), China Economic Quarterly, 3:3, pp. 763-778, Apr. 2004. Tel: 86-10-62772540 Email: [email protected] Department of Economics Tsinghua University School of Economics and Management 2012-2013

• BS, 2004, University of Science and Technology of China • M.A., 2006, Indiana University at Bloomington • Ph.D., 2012, Indiana University at Bloomington

Research Interests Econometrics Theory, Set Inference for Partially Identified Models Semi-/Non-parametric estimation and inference, Financial Econometrics

Research Output • Inferences in Semiparametric Partially Identified Models: An Empirical Process Approach (with J.C. Escanciano) , Working Paper. • Automatic Specification Testing for Vector Autoregressions (with J.C. Escanciano, I.N. Lobato), Working Paper. • A Simple Data-Driven Estimator for the Semiparametric Sample Selection Model (with J.C. Escanciano), Working Paper. ZHU Lin • A Semiparametric Test for Drift Specification in the Diffusion Model, Working Paper. Assistant Professor Office: 555, Weilun Building Tel: 86-10-62792705 Email: [email protected] 21/22

Distinguished Visiting Professors

BAI Jushan Professor, Columbia University, U.S.A Ph.D., University of California, Berkeley, U.S.A

Main research interests Time Series Econometrics, Empirical Finance.

LI Qi Professor, Texas A&M University, U.S.A Ph.D., Texas A&M University, U.S.A

Main research interests Non-parameters Econometrics, Panel Data Econometrics.

ROBINSON, Peter Professor, London School of Economics Ph.D., Australian National University

Main research interests Time series analysis, spatial analysis, nonparametric inference, semiparametric inference.

WEI Shangjin Professor, Columbia University, U.S.A Ph.D., University of California, Berkeley, U.S.A

Main research interests International Finance, International Trade, Macroeconomics, Development Economics.

XU Chenggang Professor, University of Hong Kong Ph.D., Harvard University, U.S.A

Main research interests Law and Finance. Academic Events

The Department of Econmoics has cooperated with other research centers and institutes to hold a number of international conferences and workshops. Some of them are long-term activities.

The 16th World Congress of the International Economic Association (IEA) The 16th World Congress of the International Economic Association (IEA) was held at Tsinghua University on July 4-8, 2011. It was the first time for the IEA to hold the triennial World Congress in China. More than 800 economists attended this congress. Numerous renowned overseas scholars and researchers of economics, including two Nobel Laureates, attended as well. Important issues in economic theories and policy making from global perspectives were analyzed and discussed. The unified theme of the 16th World Congress of the IEA was “Approaches to the Evolving World Economy.” Over 1,000 papers were submitted, of which more than 400 articles were presented and discussed. Thirty-one by-invitation-only lectures and sessions and over 150 parallel sessions of contributed papers were likewise conducted.

The IEA was founded in 1950 as a non-government organization upon the instigation of the Social Sciences Department of UNESCO. The mission of IEA is to promote communication and cooperation among economists around the world through academic conferences, research projects, publications, and other means, as well as discuss theoretical and current issues. The IEA is highly reputable in the field of economics research, and has 60 member associations throughout the world. Dean QIAN Yingyi is currently an executive committee member of the IEA. The World Congress, which is conducted every three years, is the most important academic activity of the IEA. 23/24

Far Eastern Meeting of the Econometric Society (FEMES)

The FEMES 2006 was held at Tsinghua University from July 9 to 12. It was the first time that the Econometrics Society held an international academic conference in Mainland China since its founding 70 years ago. More than 410 scholars and researchers in economics from 36 countries and regions attended the meeting. Former president Eric Maskin, current president Richard Blundell, and current executive vice president Rafael Repullo attended the meeting and made presentations. Invited lecturers included 13 world-renowned economists. A total of 674 papers were subjected to review by the program committee, from which 485 were accepted. In the three-day meeting, 130 contributed sessions were held, and 377 papers were presented, the largest number ever in the history of the FEMES. Scholars and researchers from 25 universities and research institutes of Mainland China presented 46 papers.

China Economics Summer Institute Co-sponsored by the Department of Economics and the National Institute for Fiscal Studies at Tsinghua University, the Department of Economics at the University of California at Berkeley, the Booth School of Business of the University of Chicago, and the LICOS-Center for Institutions and Economic Performance at the Katholieke Universiteit Leuven, the Summer Institute commits to create a platform for and a community of excellent scholars working on economic issues closely related to Chinese economic development. The Summer Institute has been held annually for four times since 2008. Approximately 20 to 30 scholars presented their research results in each conference, which lasted for three to four days. Department of Economics Tsinghua University School of Economics and Management 2012-2013

Tsinghua Workshop in Macroeconomics The Tsinghua Workshop in Macroeconomics is jointly organized by the Department and the National Institute for Fiscal Studies at Tsinghua University. The first four conferences were held at Tsinghua University in August 2009, June 2010, August 2011, and June 2012, respectively. Prominent economists, as well as a large number of scholars, both from domestic and foreign universities and research institutions, participated. A wide range of issues, including global financial crisis, monetary policy, lifecycle models, economic restructuring, and Chinese economy, have been discussed at the workshops. Since 2010, the conference has taken a further step in setting up the Tsinghua Workshop in Macroeconomics for Young Economists as its companion event, which is committed to encouraging young scholars to present their research and participate in discussions. Columbia-Tsinghua Conference on International Economics This conference is sponsored by the Department and the National Institute for Fiscal Studies at Tsinghua University, and Columbia Business School, focuses on international economic issues, especially the theory and policy concerns of the recent financial crisis. Co-sponsored by European Central Bank, Asian Development Bank, and Hong Kong Institute for Monetary Research, the first four conferences were held at Tsinghua in June 2009, 2010, 2011, and 2012. respectively. During the four conferences, scholars from China, United States, Canada, Japan, South Korea, and European Union presented papers dealing with various topics, such as exchange rates, current account adjustment, mutual economic dependence among countries, macro economy and real exchange rate, international financial markets, international trade, and economic crisis. This conference invited JIANG Jianqing, Chairman of the Industrial and Commercial Bank of China, Changyong Rhee, Chief Economist of the Asian Development Bank, and David Dollar, Chief Representative of the World Bank in China. A number of officials and scholars from European Central Bank and IMF attended and participated in the presentations and discussions. Public Finance Issues in China Jointly sponsored by the Department and the National Institute for Fiscal Studies at Tsinghua University, Cheung Kong Graduate School of Business, and the National Bureau of Economic Research, the conference aims to promote in-depth and timely research, communication, and cooperation on public economics issues, including Chinese fiscal issues, public expenditure, and intergovernmental relations. The 2011 conference covered a broad range of public finance issues in China, including the following: how tax reform affects corporate investments, technological innovation, and economic growth; how government expenditure on infrastructure, education, and health care affects individual income, income distribution, and macro economic growth; how the current tax policy affects tax evasion of enterprises and individuals; how the situation of unmatched responsibilities and financial rights of local governments affects their behavior; the short- and long-term influences of land finance on local economic development and public expenditure; and the capital resource and management of Chinese Social Security System, and ways to maintain its sustainability. A number of famous local and foreign scholars attended the first conference, including James Poterba (Professor at MIT and the President of NBER); Wojciech Kopczuk (Professor at Columbia University); Roger Gorden (Professor at the University of California at San Diego); Michelle White (Professor at the University of California at San Diego); Joel Slemrod (Professor at the University of Michigan); Henrik Kleven (Professor at LSE); Wei Li (Cheung Kong Graduate School of Business) and Hongbin Cai (Dean of Guanghua School of Management at Peking University). The 2012 conference was held in July, focusing on China’s public health, education, social security issues, and policy research. The conference is co-organized by Chong-En Bai, Roger Gorden and Wei Li. 25/26

Tsinghua Workshop in Econometrics The Tsinghua Workshop in Econometrics is committed to fostering in-depth communication and discussion of the latest developments in econometrics. The Workshop seeks to create a regional annual econometrics forum with international influences. The first four workshops were held at Tsinghua in May 2009, 2010, 2011, and 2012. respectively. Scholars around the world came to Tsinghua, and many of them are world renowned econometricians. Domestic scholars from Peking University, Renmin University of China, Beijing Normal University, Central University of Finance and Economics, Chinese Academy of Social Sciences, and Tsinghua University attended the Workshops as well. The Summer Workshop in Industrial Organization and Management Strategy The mission of this Summer Workshop is to create a regional forum for in-depth and high-quality research in the fields of industrial organization and management strategy. The workshop has been held annually since 2004. The workshop in 2009 was held at Tsinghua and covered a broad range of issues about IO and management strategy, including measurement of corporate R&D return; analysis of corruption problems in the Chinese land auction market; observation on purchasing behavior of household consumer goods; discussions on market influences of the horizontal and vertical mergers of enterprises; research on innovation incentives; and discussions on the model of public-private partnership. To support the implementation of the “Anti-Monopoly Law,” the workshop arranged a symposium on “the implementation of Chinese competitive policy.” Department of Economics Tsinghua University School of Economics and Management 2012-2013

Lectures and Seminars The Department of Economics organizes weekly seminars, inviting both international and domestic economists to present their academic papers. In addition, several high-level lecture series are held, including “Chen Daisun Memorial Lecture in Economics,” “Tsinghua Distinguished Speaker Forum on the Chinese Economy,” and “Chinese Economists 50 Forum-Sina-Changan Forum.”

Chen Daisun Memorial Lecture in Economics

On April 22, 2011, the "Chen Daisun Memorial Lecture in Economics" was launched in observing the 100th anniversary of Tsinghua University and the 85th anniversary of the Economics Department and in memory of Professor CHEN Daisun, who was the head of the Economics Department between 1928 and 1952 after he obtained his Ph.D. in Economics from Harvard in 1926. Professor CHEN Daisun was recognized as the father of modern economics education in China. Under his leadership, the Economics Department of Tsinghua University became one of the best in China. The inaugural speaker of the lecture series is Professor Eric Maskin, the 2007 Nobel Laureate in Economics and Professor at the Institute for Advanced Study at Princeton, and the topic of his lecture is “Financial Crisis: Why They Occur and What to Do about Them.”

Tsinghua Distinguished Speaker Forum on the Chinese Economy

The Department launched "Tsinghua Distinguished Speaker Forum on the Chinese Economy" in 2010. This lecture series invites high level Chinese economic policy makers and economists doing research on the Chinese economy both in China and abroad to present their opinions on issues concerning current issues in China’s economic reform and development. It aims to confront the faculty and students with the realistic problems the Chinese economy is facing, and lead new research on these issues.

Chinese Economists 50 Forum-Sina-Changan Forum

"Chinese Economists 50 Forum" was initiated in June 1998 in Beijing, clustering famous economists of national first-class, highly reputable, and dedicated to the research of China’s economic issues. Starting 2009, the School of Economics and Management became one of the co-hosts of the Chinese Economists 50 Forum-Sina-Changan Forum, and the Forum has been held at the School ever since. As one of the most influential academic forums on the Chinese economy in China, the Chinese Economists 50 Forum has always been holding seminars to probe into domestic and foreign economic situations, discussing economic policies and reforming measures, predicting economic development trends, and proposing advice for macroeconomic decision making. So far over 200 forums have run. 27/28 Research Centers

National Institute for Fiscal Studies

The National Institute for Fiscal Studies (NIFS) was founded in 2008, with Professor Chong-En Bai serving as director. The founding of NIFS was supported by the Ministry of Finance and the Ministry of Education. The NIFS is an independent university-level academic research institution that works closely with the Ministry of Finance. The NIFS aims to conduct in-depth forward-looking and scientific research on major fiscal issues to provide professional and independent opinions about and support for the nation’s major fiscal policy initiatives, to influence the process of policy making and improve the effectiveness of policies through various channels, as well as to explore new ideas, new methods and provide new knowledge for relevant academic research on fiscal policy issues. The NIFS is also committed to analyzing the experiences and lessons of China and the rest of the world to promote better fiscal policy-making in developing countries. Since its establishment, the NIFS has worked with the Ministry of Finance, the State Administration of Taxation, Bureau of Statistics, and China Development Foundation. The NIFS has carried out many research programs, held several high-level national and international conferences, and in the meantime contributed to the development of other research fields in the Department of Economics.

Tsinghua-China Development Bank Research Institute On November 13, 2008, Tsinghua University and China Development Bank (CDB) signed a comprehensive cooperation agreement to jointly establish the Tsinghua-CDB Research Institute, which aims to combine Tsinghua’s academic resources with the practical experiences of CDB to contribute to the nation’s social progress and the development of China’s financial industry.

The main tasks of the research institute include the following: to strengthen the analysis of strategic planning and the economic and financial situation; to establish the “Chair Professorship Fund” and “Scholarship for Top Students” to promote excellence among faculty and students; to provide relevant executive training programs for CDB; and to host international symposiums and high-level academic forums, among others. Department of Economics Tsinghua University School of Economics and Management 2012-2013

China Data Center

The China Data Center (CDC), established in June 2009, is a university-level research institution across different departments and schools. Professors Yingyi Qian and Qiang Li serve as co-directors, Professor Hongbin Li serves as executive associate director, and Professor Jingming Liu serves as associate director. The main aims of CDC include the following: to fully utilize the comprehensive advantage of Tsinghua University on social sciences and natural sciences; actively pursue support from related government departments, colleges and universities, scientific research institutions, as well as enterprises; and establish a data service platform focusing on social economic survey data and cross-sectional macro data to reflect the long- term trend of China’s social economic changes. Against the backdrop of critical practical socio-economic issues in China’s transformational period, the CDC aims to carry out timely and targeted data analysis and research to provide support for the long-term policy-making of the government and the Party, and to offer comprehensive services for universities and the social sciences research community at home and abroad. The CDC also strives to promote development of social sciences in China, and enhance the interplay between social and natural sciences.

The main tasks of CDC are as follows: (1) Collect, compile, and develop valuable research data accumulated in long-term socio-economic practice and scientific research by all circles of the society. (2) Fully utilize the inter-disciplinary advantage and resources of Tsinghua University to conduct focused micro socio-economic surveys and policy studies addressing key issues in China’s development. (3) Undertake long-term tracking research projects in important areas, such as education and the labor market. (4) Strengthen academic collaboration among universities worldwide. Assemble major talents to conduct in-depth pioneering research on critical social theories and social research methodologies.

Center for International Economic Research

The Center for International Economic Research was established in 2010. Professor Jiandong Ju serves as the director of the Center, Shangjin Wei, professor of Columbia University Business School and Distinguished Visiting Professor of School of Economics and anagement, Tsinghua University, serves as co-director of the Center. The mission of the Center is to become a world-class platform for international economic research and policy analysis. Since the Center’s establishment, a number of academic activities have been organized. The “Tsinghua-Columbia International Economics Annual Conference” was held in the summers of 2010, 2011 and 2012. The world’s leading international economists brought academic research to Tsinghua University at the annual meetings, keeping the study of international economics at Tsinghua at the forefront of the world. In the summer of 2011, the “RMB Exchange Rate and New International Monetary System” conference took place at Tsinghua, attracting world-renowned scholars on exchange rates and international monetary system and researchers of central banks, who conducted an in-depth discussion on RMB’s role and status in the international monetary system. The “Tsinghua International Trade Fall Meeting” takes place in the fall semester of every year. During the said meeting, outstanding scholars of international trade from Mainland China, Hong Kong, and other places discuss their latest academic pursuits.

An academic seminar is regularly held every two weeks by the Center. Together with other universities in Beijing, studies on the major international economic issues are undertaken. The “Sino-US Trade Structure Analysis” research report has been completed. In 2012, the center held “imbalances in Economic Development: International Perspectives” and “2012 Tsinghua International Economics Winter Meeting” etc., hoping to become the world’s leading academic research platform on this issue. The Center invited Chinese and foreign world-class economists who were at the forefront of international economics to join as researchers. With China growing to the world’s largest economy in the future, the Center also aspires to become the world’s leading international economic research institution. 29/30

National Center for Economic Research

The National Center for Economic Research was founded in April 1996, and is affiliated with Tsinghua SEM. The Center is an academic and policy research organization. Members include over 50 influential professors in economics and professional economists from Tsinghua University, other Chinese universities, and overseas universities and institutions. The Center is committed to high-level research on economic and strategic issues of the world economy, especially issues of China. Various activities, such as academic forums, seminars, and international conferences, are held. Research results, academic papers, books, and conference papers are published. The Center for China in the World Economy

Founded in September 2004 at Tsinghua University, directed by Professor Daokui Li, the Center for China in the World Economy (CCWE) is a policy research center focusing on policy studies from global perspectives. CCWE interacts with top-tier scholars and policymakers on China’s political, economic, and social issues. CCWE engages in dialogues with international communities and participates in policy debates concerning China’s development in a global context. Leveraging a unique mix of resources from academic, government, and business circles, the CCWE is positioned to perform focused research and conduct activities that advance original academic inquiries and propose relevant policy recommendations valuable to both governments and business communities. The periodic journal China and World Affairs (published by the CCWE) tackles a broad range of critical policy issues at home and abroad. The journal is highly regarded and has been well received. The CCWE aspires to become an internationally recognized institution for academic and policy research.

Research Center for Public Assets

Affiliated with Tsinghua SEM and founded in 2006, the Tsinghua University Research Center for Public Assets is the only academic institute that is committed to the study of public assets in China. Professor Dong Wu serves as director of the center. The Research Center for Public Assets aims to fully maximize the advantages of Tsinghua University as being a topnotch, comprehensive university, by actively cooperating with various public asset management departments, such as SASAC, as well as other related research institutions. The Center also aspires to make in-depth exploration and research on public ownership theory and various issues under public asset operations, such as finance, law, and operations and management. Furthermore, the Center also intends to provide solutions for enterprises and give recommendations to different levels of government to gradually set up a theoretical framework with Chinese characteristics for public assets supervision. The Center envisions to become a hub for Chinese public assets theory research, policy consultation, and practical guidance, and a talent training base of public assets management. Department of Economics Tsinghua University School of Economics and Management 2012-2013 Academic Journal

China Journal of Economics (CJE)

Published by Tsinghua University Press, the China Journal of Economics (CJE) is a core academic journal of the School of Economics and Management at Tsinghua University. Articles from the CJE are original economic research.

The CJE is published in Chinese, and submissions are mainly in Chinese; however, English submissions are acceptable for overseas scholars as long as the paper has not been previously published. If a paper is accepted, the author can either allow the CJE to translate it into Chinese, or the author can directly provide his/her own Chinese translation.

Website: http://www.sem.tsinghua.edu.cn Submission email address: [email protected] Tel: 86-10-62797503 31/32

Programs

・Doctoral Program ・Undergraduate Program (Economics and Finance)

・Master’s Program ・Undergraduate Program (Second Degree Program in Economics) Department of Economics Tsinghua University School of Economics and Management 2012-2013

Doctoral Program

The PhD program is committed to developing academic talents capable of conducting high level research in economics and teaching economics. Candidates are required to have extensive knowledge of fundamental theories and proficiency in modern research methods of economics. They are also required to be familiar with the leading research issues and be able to formulate meaningful research questions in their field of study. The program targets to place its graduates in institutions of higher education and policy research, as well as government agencies.

The program admits students with a bachelor’s degree or a master’s degree. Students take general theory courses in their first year and field courses in their second unless they get waivers for these courses. They are required to pass a qualifying exam and write a research paper before they proceed to the dissertation stage. A dissertation committee is formed to advise each student. Each dissertation is to be reviewed by at least two anonymous outside reviewers before the student defends the dissertation. The students are also required to gain experiences in teaching and seminar presentation.

The students are provided with a scholarship, research assistantship or teaching assistantship. Funding to support overseas exchange and conference participation is also available.

Research Fields Research fields cover major areas in the discipline of economics, in particular applied microeconomics, microeconomic theory, macroeconomics, international economics, public economics, econometrics, and political economy.

Master’s Program

The master’s program is research-oriented. It seeks to prepare students for further study in a PhD program. The students take courses that are offered to the PhD students. They are also required to write and defend a dissertation. Many of the resources for the PhD students are available to the master’s students. 33/34

Undergraduate Program (Economics and Finance)

The undergraduate program (Economics and Finance) aims to produce leaders for the various fields related to economics and finance. It emphasizes integrity, social responsibility, curiosity, and critical thinking. It seeks to provide the students with a solid foundation of core knowledge in humanities, social sciences and natural sciences, and of analytical, technological and communication skills, as well as a comprehensive training in economics and finance. It provides various opportunities for the students to gain a grasp of China’s situation and an international perspective. It also endeavors to create an environment that allows the students to pursue their individual development.

The program admits some of the best students in China. The average college entrance exam score of the students in this program is the highest among undergraduate programs at Tsinghua. The graduates are placed in top graduate programs in the world as well as those in China, in leading financial services and consulting firms, and in other leading enterprises and organizations.

Undergraduate Program (Second Degree Program in Economics)

Tsinghua SEM offers the Second Degree Program in Economics, a rigorous economics program for students from schools other than SEM. The program aims to contribute to the economic and technological development of China by graduating multi-faceted talents with solid knowledge in both economics and their own specialized areas. The Second Degree Program in Economics was introduced in 2006, and has attracted many of the most talented students at Tsinghua University. The annual intake of this program is 300. Department of Economics School of Economics and Management Tsinghua University Beijing 100084 China Tel: (8610) 6279 8049 Fax: (8610) 6278 5562 Email: [email protected] http://www.sem.tsinghua.edu.cn